Real Estate & Construction

Investments in real estate can be very lucrative. However, there are a variety of concerns that will need to be addressed when purchasing real property. If a buyer will be assuming ownership of property that tenants currently occupy, they will need to be prepared to assume existing leases and understand any other contracts that are in place. Those who are planning to embark on a real estate development project will need to ensure that they have the proper construction permits and are in compliance with all applicable laws and regulations. To ensure that all of these issues will be addressed
Continue Reading Due Diligence That Must Done in a Real Estate Transaction

On June 10, 2022, Governor J.B. Pritzker signed into law two related bills, HB 5412 and HB 4600, sent to him the previous month by the Illinois legislature that will hold a primary contractor (one who has a contract with an owner) liable for the unpaid wages and other amounts owed to employees of…
Continue Reading Illinois Joins Trend Making General Contractors Liable for Paying Subcontractors' Workers

Since the onset of the COVID-19 pandemic in 2020, businesses in Illinois and throughout the United States have encountered financial difficulties. As the country is beginning to return to normalcy, some businesses have been able to resume their regular activities and continue operating successfully. However, many businesses are still struggling as they determine how to respond to the loss of revenue that occurred due to the pandemic. These issues have affected many commercial leases, and both landlords and tenants may need to determine how to address situations where a business has been unable to pay rent on a short-term
Continue Reading Commercial Lease Modifications for Tenants Affected by COVID-19

 
There are many important decisions to make when selling or buying a home, and hiring a real estate attorney is one of them. A real estate attorney can represent you in negotiations with the other party, help you understand your rights and obligations under the contract, and protect your interests if the deal goes south.
Let’s say you are considering the possibility of buying or selling a house in Lake County, Illinois. There is a good chance that you need to consult with a real estate lawyer before proceeding with such a transaction. Here are some things you must
Continue Reading Things to Know Before Buying a Home in Lake County Illinois

 
Nowadays, having a blended family is becoming increasingly common. This can cause estate plan documents to need additional details in order to include or exclude children from a spouse’s previous marriage as beneficiaries of an estate plan.
STEP-CHILDREN
When it comes to step-children from a spouse’s prior marriage, it is up to you to decide if you would like to include or exclude those children as beneficiaries of your estate. This decision can stem from multiple factors such as whether you are close with the children, if you have your own children who you would prefer receive all of
Continue Reading Estate Planning For a Blended Family

 
A person who may feel their safety is in danger may request the court to issue them an Order of Protection.
The legal order will prohibit a person from committing any domestic violence acts or contacting the people protected by the order. The order also serves several protective reliefs like removing licensed firearms from the home, adding other people to the order, and general use of the home.
Once the court issues the orders of protection, it will require the person to stop certain behaviors like contacting or abusing the person requesting the order. Most restraining orders are related
Continue Reading How to Fight an Order of Protection

 
Many people often wonder how to transfer car ownership after the death of a loved one. While the family may have certain plans or expectations of distributing the car, it is best to follow the right process to transfer the vehicle to another person.
There could be challenges and difficulties in handling the situation among family members. However, the family can follow various steps and may engage an estate planning attorney to make the process smooth. Read on to learn more about transferring a car title after the death of a loved one.
Transferring Ownership of a Vehicle When the
Continue Reading How to Transfer a Car Title upon a Person’s Death

Illinois is an “equitable division” state, which means that during a divorce, all marital property should be equitably divided between the parties. Some assets are easier to split, like shared savings accounts and vehicles. But for some, it gets even harder to negotiate who keeps what and who leaves it. This includes dividing a family home and dividing a business and all its assets.

It doesn’t matter who spent most of their time working to build the business; if it was started after marriage, it automatically becomes marital property. In circumstances where one spouse started the business before
Continue Reading Businesses in an Illinois Divorce and How They Are Divided During the Process

By: Matthew O’Malley

There are many pros to living in condominium associations, as they are often one of the more affordable options in urban environments and especially in many areas in the City of Chicago. Condos can provide a great sense of community and allow individuals to focus on just maintaining their unit without having to worry about some other maintenance issues such as roofs, masonry, snow removal, or landscaping.

With that said, purchasing a condo is a considerable investment and I am not just talking about an initial down payment or mortgage. Life within condo associations also has significant
Continue Reading Purchasing a Condominium Unit: Buyer Beware

They say that to start up a business, you should plan to have at least five years of savings to support your business without profiting by a single dime, and if you can make it past the five years, your business has a higher potential for long-term success. The truth is, any company can experience financial turmoil at any point, be it two days or two centuries into service. The industry for which your company operates may fluctuate, or an unforeseen public catastrophe may drive business away. At what point do you decide to file for bankruptcy?
Small Business
Continue Reading Is Bankruptcy Right for My Small Business?

As you are perusing listings online, you may come across stipulations on certain houses that are considered “As-Is” property. For some, this is a big enough red flag to make them run away from the home listing as fast as possible. Others would see it as a necessary point in the real estate world.

The truth is that neither is 100% accurate, hence it is very important to understand what the term “as-is” means before you decide whether it’s worth considering buying the house or not. Read on to find out more!
What does the term “as-is” mean in real
Continue Reading “As-Is” In Real Estate Transactions

If you are struggling to make your mortgage payments, the threat of losing your home can be a terrifying thought. Once a mortgage is in default, the lender can sue to have the right to sell the property in what is known as a foreclosure sale. In 2021, lenders initiated more than 92,000 foreclosures—the lowest number in many years. In fact, 2009 saw more than 2 million foreclosures initiated by lenders looking to resolve defaulted mortgages. If you are facing the potential foreclosure of your home, you should be sure to understand the procedures that will be followed and the
Continue Reading Understanding How Foreclosure Works in Illinois

Division of property can be one of the most divisive moments during a divorce, because not always does everyone get exactly what they want. This is especially so when you live in a state like Illinois.
Illinois is an equitable distribution state, which means that marital assets are not equally distributed between spouses. Rather than dividing everything 50/50, the judge looks at each party’s current condition and future needs to determine what they get. Most cases are resolved with 70/30, 60/40 splits, and rarely some even give all marital property to one party.
The state of Illinois considers several factors
Continue Reading Splitting Marital Property During a Divorce

 
The Illinois Domestic Violence Act (IDVA) was enacted in 1982. It enabled protection to a greater class of persons who have been abused by a family or household member. Under the Act, survivors of domestic abuse such as “persons related by blood or marriage, persons who share or formerly shared a common dwelling, persons who have or allegedly have a child in common, persons who share or allegedly share a blood relationship through a child, and persons who have or have had a dating or engagement relationship” could now be warranted safety under the law.
With an Order of
Continue Reading When is an Order of Protection Warranted?

A life insurance policy is a safety net for your loved ones. It’s ensuring they are well taken care of when you’re not there. This policy contains the following information;
The death benefit – The amount of money to be paid when the insured person dies. It’s usually income tax-free.
The beneficiaries – These are the people who receive the death benefits. Beneficiaries don’t have to be loved ones or people close to you. You can leave part or all your death benefits to an institution or entity.
The policy term – The length of time for which the insurer
Continue Reading How to Claim a Life Insurance Policy upon a Person’s Death